Bancorp (NASDAQ:TBBK) Trading 8.5% Higher

Bancorp Inc (NASDAQ:TBBK)’s share price traded up 8.5% during trading on Thursday . The stock traded as high as $9.52 and last traded at $9.47, 479,500 shares traded hands during mid-day trading. An increase of 190% from the average session volume of 165,108 shares. The stock had previously closed at $8.73.

Several equities analysts have commented on the company. ValuEngine upgraded Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. TheStreet upgraded Bancorp from a “c” rating to a “b” rating in a research report on Monday, June 3rd. BidaskClub downgraded Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 28th. Finally, Zacks Investment Research downgraded Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 31st.

The company has a debt-to-equity ratio of 0.12, a current ratio of 0.70 and a quick ratio of 0.47. The company has a market capitalization of $495.64 million, a P/E ratio of 13.48 and a beta of 1.28. The stock has a 50-day moving average price of $9.40 and a 200-day moving average price of $9.14.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. Bancorp had a return on equity of 11.42% and a net margin of 30.27%. The company had revenue of $54.29 million during the quarter, compared to the consensus estimate of $52.99 million. Sell-side analysts anticipate that Bancorp Inc will post 0.95 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Municipal Employees Retirement System of Michigan bought a new position in shares of Bancorp during the second quarter worth about $624,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Bancorp by 219.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,075 shares of the bank’s stock worth $421,000 after purchasing an additional 35,775 shares during the period. Wedge Capital Management L L P NC acquired a new stake in Bancorp during the second quarter worth approximately $368,000. Kennedy Capital Management Inc. grew its stake in Bancorp by 66.7% during the first quarter. Kennedy Capital Management Inc. now owns 532,693 shares of the bank’s stock worth $4,304,000 after purchasing an additional 213,147 shares during the period. Finally, Capital Investment Counsel Inc grew its stake in Bancorp by 23.8% during the second quarter. Capital Investment Counsel Inc now owns 12,381 shares of the bank’s stock worth $110,000 after purchasing an additional 2,381 shares during the period. Institutional investors own 77.54% of the company’s stock.

Bancorp Company Profile (NASDAQ:TBBK)

The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking, savings, money market, commercial, and retirement accounts. It also provides securities-backed lines of credit, vehicle fleet and other equipment leasing, small business administration loans, and commercial mortgage-backed loans, as well as prepaid and debit cards.

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